Feb 11, 2003

Seagate Limavady Receives R&D Boost

Seagate Limavady (NYSE:STX) has received a substantial research and development grant from Invest Northern Ireland as part of its effort to strengthen the region's capabilities in technology development and economic growth.

The £1.2m grant was awarded under the RTD Centres of Excellence programme, funded by the European Union's Peace II initiative. The objective of the programme is to enhance Northern Ireland's reputation for technological excellence and its appeal to high-tech inward investors. A total of 17 company and university-based R&D centres have been allocated funding under the programme.

To qualify for the funding, Seagate Limavady demonstrated to Invest NI that the grant would be used for commercially focused and industrially exploitable research that would help strengthen the competitiveness of local industry and play a role in wealth creation. Over the next two years, the funds will go to Seagate's R&D centre at Limavady, which is developing state-of-the-art production and inspection processes to facilitate the manufacture of hard disc drives with areal densities exceeding 100 Gigabytes per square inch.

John French, development engineering director at Seagate Limavady, said the grant was "excellent news" for the expanding R&D centre at Limavady.

"At the centre, we bring together a range of specialist expertise, experience and equipment with a specific focus on developing substrate technology. Conducting this research is crucial to maintain Seagate's position as the time-to-market leader in data storage-a core strategic objective of our company. The continued successful implementation of new technology advances will ensure that Seagate's Limavady facility will continue to lead the world in the development of substrate technology."

Seagate is the worldwide leader in the design, manufacturing and marketing of hard disc drives for Enterprise, PC and Consumer Electronics applications. The Company is committed to delivering award-winning products, customer support and reliability, to meet the world's growing demand for information storage. Seagate can be found around the globe and at www.seagate.com

Seagate has two facilities in Northern Ireland, employing over 1,800 people between them. At the Springtown wafer fabrication facility, the Company develops and manufactures the recording heads, which write information onto and read information from the recording disc inside a computer's hard drive. The Company's Limavady facility produces nickel-plated aluminum substrates, the core material on which computer hard disc drives read, write and store digital information.

Seagate, Seagate Technology and the Seagate logo are registered trademarks of Seagate Technology LLC. Cheetah, Barracuda, U Series, SeaShield, SeaShell, DiscWizard, 3D Defense System, are trademarks or registered trademarks of Seagate Technology LLC. Other product names are registered trademarks or trademarks of their respective owners. Seagate reserves the right to change, without notice, product offerings or specifications.